All Forum Posts by: Paul Smythe

Brent is right on this one. You wouldn't be in a terrible position because you're still getting a portion of the mortgage covered, but the numbers aren't superb. I would try to knock them down on price a little more.

I've had the opposite experience with my hard money loans. They prefer lending to the person (credit checks and all) over an LLC. I would keep calling. I'm very confident you'll find someone.

I have a friend who is likely relocating to Fort Lauderdale for a job at the airport, and I have been sharing with him the benefits of house hacking. What are some good areas where he could find a duplex that is close to his work and under 200k?

A few areas I'm looking at are between 95 and Dania Beach. Also around Roosevelt Gardens and Washington park. Are those safe areas that are also good for investment? We would love some more input.

Does anyone know an affordable home stager I can use in Atlanta? This is for a house in Decatur.

Does anyone know a good attorney in Atlanta who specializes in setting up owner financing deals? I have a condo in Midtown I am considering financing to a buyer I'm talking to.

The Zestimate rental rates can actually be pretty accurate, but I would never use the home value Zestimate for anything other than a throw-in marketing piece to a buyer.

@Josh Caldwell There are plenty of companies that can do relationship marketing just as well or better than MLM's, they just don't rely on it like MLM's because they have real products that people actually want in the real market. They don't run on the hopes and dreams of new members who are more than willing to pay the buy-in fee for a shot at easy riches.

The vast majority of multi-level marketing companies require new reps/consultants/salespeople to pay money to join. They make a large portion of their money on people just buying in. A lot of them make almost no money on the products. I know that there are a bit more legitimate MLM's than others (May Kay, Amway, etc.), but the rest are pure pyramid schemes selling memberships with fake products thrown in.

Jumping into the MLM space at all is risky, and I think people would be better suited learning marketing elsewhere. I have no doubt that you learn a good bit from joining some of these companies, but save the money and buy a book instead. Skip the MLM muddy waters.

There is a fine line between being a good marketer to get your message out there and being annoying and unpleasant to talk to. I think most "multilevel marketers" cross that line.

I am also not at all comfortable with recommending that people join an MLM. You can dress these programs up all you want, but ultimately they're just pyramid schemes. They will deny it and give various reasons, but it's always the same thing. Most of the money is made when people sign up and pay for their membership/product/whatever. Some of them may actually be good, but the vast majority exploit people and their desire to be wealthy.

Get your marketing expertise a different way. BP is a great resource. There are plenty of books you can read. Don't join MLMs to learn marketing, because you will learn to market the wrong way and end up calling up old friends asking if they want to get in on an "amazing opportunity" (I cringe every time I receive one of those calls)

Just my two cents. There is ABSOLUTELY merit in letting people know what you do and getting your name out there. You just don't want to cross the line. I think Bigger Pockets should be a place free of pyramid schemes.

DEPENDING ON HOW MUCH THE RENTAL INCOME IS YOU MIGHT QUALIFY FOR AN INVESTMENT LOAN, BUT I DOUBT IT. BANKS AREN'T GOING TO LEND IF YOU DON'T HAVE ENOUGH CASHFLOW (THROUGH THE PROPERTY OR JUST W2 INCOME).

@Dylan McClung Full disclaimer: I have never bought a MHP or even an individual mobile home. I'm passively looking for one, but nothing yet.

That being said, I think a MHP is an excellent investment to consider. Because you work full time you will want to focus on parks that are only renting the lots and do not own the homes themselves. That way your responsibilities shrink significantly.